CLEVELAND, Ohio -- Rodney Hood ended his restricted free agency by accepting the Cavaliers' $3.4 million qualifying offer and placing a bet on himself for a big season this year.

He informed the Cavs of his decision today, sources told cleveland.com.

Hood, 25, a gifted, 6-8 forward, will be an unrestricted free agent next summer. He left a multiyear deal from the Cavs worth about $7 million per season on the table by accepting their qualifying offer.

Sources said Hood was seeking a contract for more than $9 million per season from the Cavs. For comparison, the Celtics signed restricted free agent Marcus Smart to a four-year, $52 million deal this summer, and the Bulls matched the four-year $78 million offer sheet Zach LaVine signed with the Kings.

Most NBA insiders said Hood cost himself that kind of money with his postseason struggles for the Cavs, averaging 5.4 points on .167 shooting from 3-point range in the 2018 playoffs.

Hood's plus-minus of minus-93 was the worst of any player in the postseason and, after starting Game 1 of a first-round series against the Pacers, he fell out out coach Tyronn Lue's rotation entirely. He crept back in there when all else failed for Lue for the last two games of the Finals.

Hood is averaging 13 points and three rebounds in four pro seasons -- mostly with the Utah Jazz. He was having a career year before the Jazz shipped him to the Cavs (for Jae Crowder, as part of a three-team trade), averaging 16.8 points. He's a career-.419 shooter from the field and .369 from 3-point range.

When Hood arrived on the Cavs, he averaged 10.8 points during the regular season. A popular theory surrounding Hood -- who obviously has the talent to play well in the NBA, given his production overall -- was that he wasn't ready for the pressure of joining LeBron James' team in a February trade and playing for a team expected to reach the Finals.

With James gone to the Lakers as a free agent, Hood could very well be James' replacement and wind up the Cavs' second scoring option behind Kevin Love. And that's where Hood is placing his bet -- that he'll get back to the kind of season he was enjoying with the Jazz before the trade and will be able to cash in as an unrestricted free agent when the salary cap jumps to $109 million for 2019-20.

Cavs former general manager David Griffin told cleveland.com's Wine and Gold podcast that he thought Hood would be the team's primary scorer late in games -- a sign of how valuable a player he could be this season.

The Cavs would still be able to pay Hood more than any other team next summer because they have his full "Bird" rights under the NBA's collective bargaining agreement.

Cleveland signed David Nwaba to a one-year, $1.5 million deal on Saturday. The roster now stands at 14 players heading into training camp, which is likely where it will stay.

The Cavs' payroll for this season is now in the $115 million range -- which is above the league's $101 million salary cap but under the $123 million luxury-tax line.

If the Cavs can keep it there this season, it will be the first time since before LeBron returned that owner Dan Gilbert avoids tax penalties on his roster -- which will give Cleveland even more salary flexibility next season.